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Western Union to pay $586m fine for money transfer fraud

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Western Union has admitted turning a blind eye as criminals used its money transfer services to launder money and commit fraud. It has agreed to pay a $586 million fine to the US authorities.

FIs and fintechs set up new industry group, Consumer Financial Data Rights

Consumer rights

Financial services and fintech firms in the US come together to form a new industry group – Consumer Financial Data Rights (CFDR) – “to defend consumers’ access to their data and fuel innovation in fintech”.

Finra highlights possibilities of blockchain tech for the securities industry

Finra examines blockchain

Financial Industry Regulatory Authority (Finra), a non-governmental organisation that regulates member brokerage firms and exchange markets in the US, has published an extensive report, evaluating the implications of blockchain for the securities industry.

AxiomSL adds Raymond James to customer list

Raymond James

AxiomSL, a regulatory reporting and risk management software vendor, has added financial services firm Raymond James to its customer list.

Thesys awarded major tech contract to track all US stock and options orders

HFT provides benefits now

Thesys Technologies, trading technologies and analytics software specialist, has won the contract to build a new system for the Securities and Exchange Commission (SEC) to track and store all stock and options orders and transactions.

Single point of access to all real-time payments schemes worldwide from ACI

Real-time payments are coming to you

Payments software and services vendor ACI Worldwide says its latest version of UP Immediate Payments provides “single point of access to all immediate payments schemes globally”.

Aperio to revamp investment management ops with Linedata

US flag

Aperio Group, $16 billion investment manager in California, has selected investment management software from Linedata.

Smooth Commerce and Visa first in Canada for Visa Developer Programme

Canada

Smooth Commerce and Visa have completed the first integration of Visa’s Developer Programme in Canada and brought to market “a first of its kind innovation” in the mobile commerce space.

First Oklahoma FCU in core banking and digital software revamp with Fiserv

Core banking software modernisation in Oklahoma

First Oklahoma Federal Credit Union, the oldest credit union in the state, has embarked on a major tech overhaul. It will implement Fiserv’s Portico core processing system and a suite of digital solutions.

The White House unveils fintech framework for US

The White House

The National Economic Council (NEC) of the US, part of the Office of White House Policy, has published a whitepaper, “A Framework for Fintech”.

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